IT sector robust, layoffs part of appraisal process

Alain Brian
Mai 17, 2017

"Some of the companies which have been named (as undertaking job cuts) have clarified that there is nothing big this year", she said on the sidelines of Broadband India Forum event.

Ms Sundararajan added: "As part of annual appraisals, they may not be renewing contract of some people but it is absolutely incorrect to assume that suddenly this year a large number of jobs are being shed". But we have it on categoric record from the industry that large-scale job losses have not hampered at all.

Over the past few weeks, there have been reports of layoffs across the IT sector.

It said that liberalized implementation and facilitation of the latest innovations in this sector to help cater to this projected demand, shall enable the sector to achieve FDI of $3-5 billion that can be brought into launch satellites, develop and manufacture satellite gateways (ground terminals) and also for the manufacture of end-user terminals (micro-VSATs, satellite handhelds, etc). Wipro, Infosys, Cognizant, and Tech Mahindra have initiated job cuts as part of their annual performance reviews.

May 15 India said on Monday its computer systems have largely escaped a massive global ransomware attack, and that state organisations managing government websites and building supercomputers have installed security patches issued by Microsoft Corp.

There are fears that thousands of employees in the sector could be shown the door over the next few weeks.

The reports of large scale layoffs have compounded the worry in the industry, as the sector is already battling challenges in the business environment and stricter work permit regime in countries like the US, Singapore, Australia and New Zealand. A McKinsey & Company report also said earlier this year that almost half of the workforce in the IT services firms will be "irrelevant" over the next 3-4 years.

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